everiwa: A smart payment platform to support mobility transformation

Mizuho Digital Transformation

February 10, 2023


Working with Panasonic to make EVs mainstream and part of a circular economy


Developing a payment platform for use at charging facilities

The global trend toward decarbonization is accelerating in an effort to limit the rise of global temperatures and ensure a sustainable future. "Decarbonization" refers to the attempt to reduce the greenhouse gas (GHG) emissions that cause of global warming. It is sometimes used interchangeably with "carbon neutrality," which actually refers to having a balance between emitting carbon and absorbing carbon from the atmosphere through sequestration techniques.

In Japan, the government set a goal of net-zero GHG emissions by 2050, and companies all over the country are mobilizing in response to comply. A major part of the effort to achieve this goal involves increasing the use of electric vehicles (EVs). However, EVs still make up only about 1% of new car sales in Japan, with approximately 1% of the population having access to charging stations. The lack of charging infrastructure is a major stumbling block for widespread EV adoption – without it, few people can confidently purchase EVs.

To address the lack of charging infrastructure, Panasonic has created "everiwa Charger Share," a platform for sharing EV charging infrastructure. Everiwa is a word derived from the combination of "everyone" and the Japanese word for circle "wa," enables businesses and individuals with EV charging facilities to act as hosts and to share their charging facilities with other EV users. After going through a simple registration process, EV drivers can tap on a smartphone app to reserve charging facilities and pay the charging fees online.

In support of this new platform, Mizuho Bank is participating in everiwa initiatives, including the joint development of a payment system for the service. Together with Panasonic, we are working to make e-chargers more accessible, to increase the number of EVs, and reduce GHG emissions.

House Coin and the "everiwa wallet"

For everiwa to succeed, in addition to having a sustainable business model, it is essential that the service is easy to use – for both the hosts that actually provide the charging facilities and the EV drivers that utilize them. In particular, if payments can be made via smartphone, it lowers the hurdle for repeat users and for new hosts to join the service.

In response, Mizuho Bank is leveraging its House Coin. In addition to providing the basic functions for cashless payments, House Coin can be customized to fit any service, and the "everiwa wallet" was developed to take advantage of this. The digital wallet service allows contactless, cash-less payment and is easy to use. When using charging facilities, the customer can pay seamlessly via the app using their everiwa wallet. The host immediately receives payment in a smooth and stress-free manner.

The app features a provisional payment mechanism that puts aside a deposit equivalent to the charge fee and secures it until the reservation time. Moreover, everiwa Charger Share incorporates "Sharing Insurance," which was ingeniously developed by Sompo Japan Insurance to deal with various kinds of issues, so individuals can use the service with peace of mind even when sharing charging stations and settling payments remotely with others whom they cannot see. 


Beyond payment infrastructure: Mizuho Bank as a partner in sustainability

Mizuho Bank joined the everiwa community not only because it wants to support the growth of EVs, but also because it shares the vision of facilitating the transition to net-zero through digital transformation. Mizuho identifies with everiwa's initiative to develop a community to create value in its efforts toward achieving a decarbonized society.

Mizuho Bank has been promoting sustainable business and decarbonization based on its net-zero strategy, announced in May 2022, and net-zero transition plan, which outlines the Bank's stance and actions to achieve net zero by 2050. Our support of new technologies and innovative business models that contribute to decarbonization, paired with everiwa's philosophy of achieving a low-carbon economy and creating a sustainable future for generations to come has resulted in a synergy that underlies our current efforts.

Leveraging our banking customer base and branches nationwide to expand the EV community

Mizuho Bank's commitment to everiwa goes beyond the provision of payment infrastructure. One of our strengths is our extensive customer base, composed of a wide variety of companies and municipalities. Mizuho will leverage this customer base to promote the new charger-payment ecosystem among our business partners, by encouraging those that are highly interested in EVs to become a bridge for community participation.

Decarbonization is a shared goal relevant not only in Japan but also around the world. Leveraging our unique capabilities, Mizuho aims to not only expand everiwa's sustainable impact, but to also evolve beyond digital transformation to achieve sustainability transformation. To this end, Mizuho Bank will continue to take on challenges together with Panasonic.

Text and photographs: Mizuho DX Editorial Department


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